The world of financial services is ever-evolving, and today we're delving into a fascinating shift in the industry. A $3.5 billion move by iTP Partners has caught my attention, and it's a story that reveals much about the future of wealth management.
The Big Move
iTP Partners, led by co-founders Bob Sansone and Jeff Hartman, has decided to leave their former broker-dealer, Osaic, and embark on a new journey with Cetera Financial Group. This move is significant, not just for the assets and advisors involved, but for the insights it offers into the evolving landscape of financial advice.
Why the Switch?
Sansone, an industry veteran, believes in the RIA (Registered Investment Adviser) model as the future. iTP's decision to join Cetera's Blueprint RIA channel allows advisors to benefit from real ownership through equity without the burden of building the infrastructure from scratch. It's a powerful incentive, and Cetera's flexibility seems to have been a key factor.
Cetera's Appeal
Cetera's Blueprint platform offers multi-custodial options, a feature that iTP advisors already utilize. Sansone appreciated Cetera's willingness to adapt to their needs, a refreshing approach in an industry that can sometimes be rigid. This flexibility is a major draw for firms like iTP, who want to maintain control over their business model.
A Career Journey
Sansone's career path is an interesting one. Starting with Mutual of New York in 1971, he later teamed up with Hartman to found iTP in 2014. Their initial affiliation with American Portfolios, which later became part of Advisor Group and then Osaic, showcases the evolving nature of the industry.
Cetera's RIA Channels
Cetera's Blueprint channel is just one of their RIA offerings. They also have Cetera Investors and Cetera Planning Partners, the latter of which was formed earlier this year through the combination of two RIAs acquired in 2023. As of March 2026, all Cetera firms manage a substantial amount of assets, highlighting their significant market presence.
Deeper Insights
This move by iTP Partners is a strategic play, leveraging Cetera's resources while maintaining autonomy. It's a trend we're likely to see more of as the industry evolves. The RIA model offers advisors a sense of ownership and control, which is increasingly attractive in an industry that's constantly changing.
Conclusion
The financial services industry is in a state of flux, and moves like this one by iTP Partners offer a glimpse into the future. As we see more firms embracing the RIA model, it will be interesting to observe how this shift impacts the industry's landscape and the services offered to clients. It's an exciting time for financial advisors and their clients alike.
